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USDCHF is showing interesting confluence points

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The USDCHF pair dropped after Swiss trade balance numbers came better than expected (3.05B vs 2.51B estimate) and currently it is showing possible 2-way trading opportunities. As we can see on the chart 0.9525 zone is important for the pair. That is point 2 of M bearish pattern and when point 2 is broken M pattern is confirmed. Since we are watching H4 chart 0.9525 also marks important interim level. If the pair closes ABOVE the level it could spike up to 0.9615 where we could possible see a

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